secwatch.observer — SEC 8-K summary
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Issuer:     ILLINOIS TOOL WORKS INC (ITW)
CIK:        0000049826
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0000049826-23-000050
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ITW Q3 GAAP EPS $2.55 (+9%), revenue $4.0B (+0.5%); narrows FY EPS guidance to $9.65-$9.85
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- Revenue $4.0B (+0.5%); organic growth 0.2% (2% on equal days basis). Operating margin 26.5% (+200 bps).
- GAAP EPS $2.55 (+9%); effective tax rate 23.8%. Enterprise initiatives added 140 bps to margin.
- Free cash flow $856M (+40%), conversion rate 111% of net income. Dividend raised 7% to annualized $5.60/share.
- Narrows FY 2023 GAAP EPS guidance to $9.65-$9.85 (from $9.55-$9.95); includes $0.12 hit from auto labor actions.
- Projected FY organic growth 2-3%; operating margin 25-25.5%; plans ~$1.5B in share repurchases.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49826/000004982623000050/0000049826-23-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49826/000004982623000050/itw-20231024.htm
  HTML page:      https://secwatch.observer/filing/0000049826-23-000050

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